Solar Energy Storage Market 2019–2025 Analysis by Trends, Forecasts and Regions

By Rahul Varpe

Solar Energy Storage Market in 2018 valued over USD 170 million and is predicted to grow over 35% CAGR by 2025. Strict regulatory norms in line with rising environmental concerns to reduce emissions through the installation of effective energy conservation measures will boost the industry growth. Moreover, ongoing technological advancements & upgrades to provide a cost-competitive business outlook will augment the industry dynamics.
Favorable government norms on account of self-consumption and subsidies from grid operators & distribution companies with an aim to achieve grid feed-in will augment the business potential. Moreover, the industry is anticipated to gain momentum on account of PV installation on small scale systems and substantial growth potential across applications behind the meters. Furthermore, BES integration will increase owing to declining costs along with batteries retrofitting with small scale photovoltaics are the key factors driving energy storage demand.
Off-grid conventional energy solutions, including mini-grids & stand-alone systems, to provide access to energy have appeared as a prominent, cost-competitive solution. Growing inclination toward research and development have decreased technology costs which favor the innovation in financing catering & delivery models including local entrepreneurs, private sector & the communities. Henceforth, positive consumer tendencies along with positive industry and regulatory outlook to incorporate a sustainable energy scenario will complement business outlook.
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Asia Pacific solar energy storage market is anticipated to exceed 40% by 2025. Stringent government norms coupled with public and private investments in renewable energy solutions across the region inculcating partial decarbonization activities will positively influence the business outlook. Growing investor inclination toward new renewable projects after post-COP21 agreement has witnessed a rapid expansion of the conventional bond industry. The existing regulatory policies and fiscal incentives across the region favor these prospects. Moreover, solar is a relatively abundant and effective energy source which enhances its penetration in many countries inducing long-term policies to emphasize renewable growth in their overall conventional energy portfolio.
Large scale investments has benefitted lithium ion segment on account of their deployment across a wide range of applications. Rapid inclination toward cost reduction potential through an increase in competitive supply chains, material improvements and scale of production capacity will positively influence the product demand. In addition, large scale technological development of Evs favored by ongoing solar integration will augment the industry dynamics.
Prominent solar energy storage market players include Carnegie Clean Energy, BMW, Kokam, BYD, Primus Power, Samsung, Maxwell Technologies, EnerSys, LG Chem, Leclanche, FIAMM, Vionx BAE, Saft, Adara Power, Ecoult and Aquion.
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Product flexibility, competitive pricing, reliability and brand value are few key factors to validate solar energy storage market competitiveness. Moreover, extensive R&D investments and self-attained product patents coupled with flexible process implications across the integrated distribution channels, have further augmented the business portfolio.
Table of Contents
Chapter 1 Methodology & Scope
    	
  • 1.1 Methodology
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  • 1.2 Market definitions & abbreviations	
      		
    • 1.2.1 Definition
      • 		
    • 1.2.2 Abbreviations
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  • 1.3 Market estimates & forecast parameters
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  • 1.4 Data sources	
      		
    • 1.4.1 Primary
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    • 1.4.2 Secondary		
        			
      • 1.4.2.1 Paid sources
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      • 1.4.2.2 Public sources
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Chapter 2 Executive Summary
    	
  • 2.1 Global solar energy storage industry 360 degree synopsis, 2014 - 2025	
      		
    • 2.1.1 Business trends		
        			
      • 2.1.1.1 Electricity storage needs in the energy transition
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    • 2.1.2 Composition trends
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    • 2.1.3 Capacity trends
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    • 2.1.4 Installation trends
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    • 2.1.5 Regional trends
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Chapter 3 Global Solar Energy Storage Industry Insights
    	
  • 3.1 Industry segmentation
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  • 3.2 Industry landscape, 2014 - 2025 (USD Million)
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  • 3.3 Industry ecosystem analysis	
      		
    • 3.3.1 Lithium Ion
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    • 3.3.2 Lead Acid
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    • 3.3.3 Vendor Matrix
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  • 3.4 Regulatory landscape	
      		
    • 3.4.1 Europe		
        			
      • 3.4.1.1 EU Battery Directive
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      • 3.4.1.2 Secondary European Legislation on Batteries:
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      • 3.4.1.3 UK
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      • 3.4.1.4 Northern Ireland
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      • 3.4.1.5 Scotland
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    • 3.4.2 U.S.		
        			
      • 3.4.2.1 Electronic Code of Federal Regulations
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    • 3.4.3 China		
        			
      • 3.4.3.1 China RoHS Directive
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    • 3.4.4 Japan
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    • 3.4.5 International Battery Standards and Testing		
        			
      • 3.4.5.1 General Battery Standards
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      • 3.4.5.2 Safety Standards
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      • 3.4.5.3 Quality Standards
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  • 3.5 Innovation and technology landscape	
      		
    • 3.5.1 Saft Batteries
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    • 3.5.2 BYD
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    • 3.5.3 EnerSys
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    • 3.5.4 Primus Power
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  • 3.6 Price trend (USD/Watt)
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  • 3.7 Solar energy storage projects landscape
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  • 3.8 Electricity storage services
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  • 3.9 Global energy storage power capacity shares by main-use case, 2018
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  • 3.10 Application suitability of storage technologies	
      		
    • 3.10.1 Grid services
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    • 3.10.2 Behind the meter
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    • 3.10.3 Off-grid
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  • 3.11 Lithium ion battery manufacturing landscape	
      		
    • 3.11.1 Critical Raw Material (CRM) landscape		
        			
      • 3.11.1.1 Cobalt
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      • 3.11.1.2 Natural Graphite
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      • 3.11.1.3 Silicon Metal
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      • 3.11.1.4 Lithium
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    • 3.11.2 Cell component manufacturing landscape		
        			
      • 3.11.2.1 Cathode active materials			
          				
        • 3.11.2.1.1 Aluminum Foil
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        • 3.11.2.1.2 Cathode
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      • 3.11.2.2 Anode active materials			
          				
        • 3.11.2.2.1 Copper Foil
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        • 3.11.2.2.2 Anode
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      • 3.11.2.3 Electrolyte
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      • 3.11.2.4 Separators
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  • 3.12 Comparative analysis of batteries
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  • 3.13 Used Lead Acid Battery (ULAB) recycling initiatives	
      		
    • 3.13.1 North America		
        			
      • 3.13.1.1 U.S.
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    • 3.13.2 Europe
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    • 3.13.3 Asia Pacific		
        			
      • 3.13.3.1 Australia
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    • 3.13.4 Africa		
        			
      • 3.13.4.1 South Africa			
          				
        • 3.13.4.1.1 e-Waste Association of South Africa (eWASA)
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    • 3.13.5 Latin America		
        			
      • 3.13.5.1 Colombia
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    • 3.13.6 Flow Chart Depicting Lead Acid Battery Recycling Process
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  • 3.14 TCO Analysis	
      		
    • 3.14.1 Battery attributes
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    • 3.14.2 Assumptions
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    • 3.14.3 Capital expenses
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    • 3.14.4 Operational expense
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    • 3.14.5 TCO calculation
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  • 3.15 Industry impact forces	
      		
    • 3.15.1 Growth drivers		
        			
      • 3.15.1.1 Global			
          				
        • 3.15.1.1.1 Declining Battery Costs
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      • 3.15.1.2 North America & Europe			
          				
        • 3.15.1.2.1 Positive clean energy outlook
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        • 3.15.1.2.2 Favourable regulatory inclination towards sustainable energy
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      • 3.15.1.3 Asia Pacific			
          				
        • 3.15.1.3.1 Large-scale renewable integration
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        • 3.15.1.3.2 Growing energy demand across isolated areas
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      • 3.15.1.4 Middle East & Africa			
          				
        • 3.15.1.4.1 Restructuring & revamping of existing electrical infrastructure
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        • 3.15.1.4.2 Large scale renewable integration prospects
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      • 3.15.1.5 Latin America			
          				
        • 3.15.1.5.1 Integration of a sustainable energy infrastructure
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    • 3.15.2 Industry pitfalls & challenges		
        			
      • 3.15.2.1 Stringent government regulations
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  • 3.16 Entry barrier
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  • 3.17 Customer Group Requirement	
      		
    • 3.17.1 Price
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    • 3.17.2 Capacity
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    • 3.17.3 After Sales Service
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    • 3.17.4 Product Accreditation
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    • 3.17.5 Size
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    • 3.17.6 Maintenance
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    • 3.17.7 Transportation & disposal regulations
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  • 3.18 Growth potential analysis
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  • 3.19 Porter's Analysis
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  • 3.20 Competitive landscape, 2018	
      		
    • 3.20.1 Strategy dashboard		
        			
      • 3.20.1.1 BYD Company			
          				
        • 3.20.1.1.1 BYD & Armex
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        • 3.20.1.1.2 Partnership
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        • 3.20.1.1.3 Joint Venture
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      • 3.20.1.2 Primus Power			
          				
        • 3.20.1.2.1 Partnership
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        • 3.20.1.2.2 Agreement
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        • 3.20.1.2.3 Primus Power & Microsoft
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        • 3.20.1.2.4 Primus power in South Africa
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      • 3.20.1.3 LG Chem
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      • 3.20.1.4 EnerSys
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      • 3.20.1.5 Leclanché			
          				
        • 3.20.1.5.1 Leclanché and Exide industries
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        • 3.20.1.5.2 Leclanché, Enel and Enertag
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      • 3.20.1.6 Saft Batteries			
          				
        • 3.20.1.6.1 Saft Batteries & GO Electric Inc.
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        • 3.20.1.6.2 Innovation
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        • 3.20.1.6.3 Saft Batteries & Rolls Royce Marine
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      • 3.20.1.7 Adara Power			
          				
        • 3.20.1.7.1 Partnership
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  • 3.21 PESTEL Analysis
Chapter 4 Global Solar Energy Storage Market, By Composition
    	
  • 4.1 Global Solar Energy Storage market share by composition, 2018 & 2025
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  • 4.2 Lead acid	
      		
    • 4.2.1 Global market from lead acid, 2014 - 2025
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    • 4.2.2 Global market from lead acid, by region, 2014 - 2025
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  • 4.3 Lithium ion	
      		
    • 4.3.1 Global market from lithium ion, 2014 - 2025
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    • 4.3.2 Global market from lithium ion, by region, 2014 - 2025
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  • 4.4 Flow battery	
      		
    • 4.4.1 Global market from flow battery, 2014 - 2025
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    • 4.4.2 Global market from flow battery, by region, 2014 - 2025
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  • 4.5 Others	
      		
    • 4.5.1 Global market from others, 2014 - 2025
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    • 4.5.2 Global market from others, by region, 2014 - 2025
      •

About Author

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid...

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